Nigeria food price drop recovery sees staple prices fall by 53%, FG says agriculture reforms are driving early economic relief for households
Abubakar Kyari, Minister of Agriculture and Food Security, on Thursday, 23 April 2026, in Lagos, Nigeria, announced a significant reduction in staple food prices, stating that the Nigeria food price drop recovery has led to a fall of up to 53 per cent in key commodities across the country.
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Kyari made the disclosure at an economic forum in Lagos, where he reviewed ongoing agricultural reforms and their early impact on inflation and household welfare.
He explained that the development reflects gradual stabilisation within the food supply chain following sustained government interventions.
He stated that food inflation has eased to 8.98 per cent year on year, describing it as a notable shift after years of persistent double digit pressures on consumers.
He linked the improvement to targeted reforms aimed at improving productivity and market efficiency within the agricultural sector.
The minister said agriculture continues to play a decisive role in Nigeria’s economy, contributing about a quarter of the nation’s gross domestic product while employing a majority of the labour force.
He stressed that food security remains central to economic stability and national resilience.
Kyari, however, cautioned that the progress remains fragile. He highlighted persistent challenges including high input costs, weak rural infrastructure, climate disruptions, and limited access to finance for farmers.
He warned that without sustained intervention, gains could easily be reversed.
Fertiliser costs were identified as a major pressure point, with many smallholder farmers still struggling to afford essential inputs.
He also noted that mechanisation remains limited, slowing the pace of modern agricultural expansion across several regions.
Despite these challenges, Kyari said government programmes are beginning to show results.
He referenced fertiliser support schemes, digital farmer registration systems, and expanded mechanisation initiatives as key pillars of the ongoing reforms.
He added that climate smart agriculture, including solar powered irrigation projects, is being scaled up to support year round farming and improve yields.
According to him, these measures are designed to shift the sector from subsistence to commercial scale production.
In the livestock segment, officials also flagged feed shortages as a critical constraint, noting that feed accounts for a large share of production costs.
The government is now developing structured interventions, including fodder hubs, to address the challenge.
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While the reported price declines have been described as encouraging, stakeholders say long term stability will depend on deeper structural reforms and sustained investment across the agricultural value chain.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
